HomeRegional NewsInternationalEskom receives R980 million loan for renewable energy

Eskom receives R980 million loan for renewable energy

This is the type of
project in which Eskom
is engaged in the
Western Cape
Johannesburg, South Africa — ESI-AFRICA.COM — 26 August 2011 – South African  national power utility Eskom Holdings has been given a R980.8 million loan by the Agence Française de Développement (AFD) to assist with the development of its renewable energy projects.

Announcing this here, Eskom said: “The facility, which is for 20 years, will go towards financing our 100 megawatt Sere Wind Project at Vredendal in the Western Cape.”.

The loan forms part of Eskom’s seven-year R300 billion funding plan.

Eskom had previously received loans from the African Development Bank, the World Bank and the Clean Technology Fund for its renewable energy projects in wind and concentrated solar power.

“Eskom values the relationship we have built with the AFD and we hope in the near term to conclude another facility with the bank for Eskom’s planned 100MW concentrated solar power plant in the Northern Cape,” said finance director Paul O’ Flaherty.

AFD is a bilateral development finance institution that works on behalf of the French government.